Bab 38 Market Analysis Articles August 3rd
Market Analysis 3rd August 2023
EURUSD
EURUSD moves slightly lower on Wednesday, able to break below our support level. Currently EURUSD running at 1.0938.
At the time of writing, the four-hour Stochastic indicator is moving lower just above the oversold area, the price is moving below the 20-period moving average. We are expected that EURUSD might move lower for today and try to reach below our support level at 1.0919.
Resistance: 1.0975, 1.1046
Support: 1.0919, 1.0843
GOLD
Gold moves lower on Wednesday and able to break below our support levels. Gold currently is running at $1,935.
At the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is moving below the 20-period moving average. We expect that Gold will moves lower and reach our support level at $1,930.
Resistance: $1,941, $1,952
Support: $1,930, $1,921
GBPUSD
GBPUSD moves slightly lower on Wednesday, and able to break our support level. Currently, GBPUSD is trading at 1.2710.
As of this writing, the four-hour Stochastic indicator is moving slightly lower just above the oversold area, the price is moving below the 20-period moving average. We expect GBPUSD to move lower and break our support level at 1.2687.
Resistance: 1.2763, 1.2873
Support: 1.2687, 1.2601
SPXUSD
SPXUSD moved lower on Wednesday and able to break our support level. SPXUSD currently is running at 4517.
As of this writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is moving below the 20-period moving average. We expect that SPXUSD might moves slightly lower today and reach our support level at 4495.
Resistance: 4530, 4573
Support: 4495, 4456
USOUSD
USOUSD (WTI) moves lower on Wednesday and able to break our support level. Currently USOUSD is running at 79.35.
As of the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is now moving below the 20-period moving average. We expect that USOUSD to move slightly lower for today and try to reach below our support level at 78.49.
Resistance: 80.50, 81.99
Support: 78.49, 77.17
Key events for Today
CHF CPI m/m
GBP BOE Monetary Policy Report
GBP MPC Official Bank Rate Votes
GBP Monetary Policy Summary
GBP Official Bank Rate
GBP BOE Gov Bailey Speaks
USD Unemployment Claims
USD ISM Services PMI